Greaves Cotton corrects sales to profit

0

Greaves Cotton fell 6.14% to Rs 223.05 after a recent steep rally.

Greaves Cotton shares have jumped 53.82% in the past five sessions.

Over the past year, the stock has jumped 129.43% while the benchmark Sensex has risen 23.44% over the same period.

Technically, the stock’s RSI (Relative Strength Index) stood at 61.31. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading above its 50-day, 100-day, and 200-day Simple Moving Average (SMA) placed at 183.65, 162.05 and 152.86, respectively.

On a consolidated basis, Greaves Cotton reported a net loss of Rs 23.29 crore in the second quarter of September 2021, higher than the net loss of Rs 22.49 crore in the second quarter of September 2020. Net sales increased by 13 , 40% to reach Rs 373.51 crore in the second quarter of September 2021 compared to the second quarter of September 2020.

Greaves Cotton is a diversified engineering company and a leading manufacturer of clean technology powertrain solutions (CNG, gasoline and diesel engines), generator sets, agricultural equipment, electric mobility, aftermarket and services.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

Share.

Comments are closed.